Globest Sectors

RAF Pacifica Group completes its business plan to bring 1 million square feet of high-quality institutional industrial space to the market.

Holliday Fenoglio Fowler, L.P. reports it arranged $110 million in financing for the 310,055-square-foot project that includes the 200-key Kimpton Hotel Born; a 54,976-square-foot, Class A five-story office building with ground-level retail space and a 197-space parking garage in Downtown Denver.

Developers completed tens of millions of square feet of new product in just three years, including 25 million in the I-55 Corridor near Joliet alone.

Among other effects, there will be a negative reaction for retail REITs, says Matt Kopsky with Edward Jones.

The sale of the property between a private investor and owner operator and the new owner, a Chicago-based private equity firm, was reported by brokerage firm Marcus & Millichap.

After several years of redeveloping older, underutilized buildings, new construction has begun.

A joint venture of Trammell Crow Co. and Elm Tree Funds was awarded a 20-year build-to-suit lease in August with the General Services Administration for the project.

JP Morgan and Mack Real Estate are providing $294 million for the luxury condominium tower. Construction on the 22-story building that is being built by John Moriarty & Associates has begun.